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San Diego home prices spike, median now $530K

By:
City News Service

Posted at 11:03 AM, Mar 09, 2016

and last updated2016-03-09 14:04:36-05

SAN DIEGO -- The median price of single-family homes that sold in the San Diego region last month increased 7 percent, compared to the same period last year, but the number of houses that changed hands fell 12 percent, figures released today show.

The median price of a house in February was $530,000, unchanged from the month before, according to the San Diego Association of Realtors.

The trade group reported that 1,337 houses changed hands last month, six more than in January but 188 fewer than February 2015.

For attached homes like condominiums and townhouses, the median sales price in February was $354,450, 1 percent higher than January and 6 percent above the same period last year.

According to SDAR data, 739 condos and townhouses sold last month, compared to 681 in January and 749 in February 2015.

"We're looking forward to a healthy spring selling season, which is just getting started," said SDAR President Cory Shepard. "The inventory of properties for sale is edging up, and any rise in mortgage rates this year is expected to be reasonable and should spur more home selling and buying before

rates go even higher."

The most expensive listing sold in the county in February was a seven- bedroom, 11-bath, 18,500-square-foot mansion in the La Playa neighborhood of Point Loma, built in 1990, with a price tag of $17.7 million, the SDAR reported.